Reliance Infrastructure Limited has informed the Exchange about change in Management
RELINFRA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Reliance Infrastructure Limited reported audited consolidated net profit of Rs 2,900.23 crore for FY26 (vs Rs 4,937.52 crore in FY25). Key management changes include appointment of Shri Vijesh Babu Thota as CEO (concurrent resignation from CFO position) and Shri Asheesh Chaturvedi as new CFO. The company appointed Paresh Rakesh & Associates LLP as new statutory auditors filling a casual vacancy after Chaturvedi & Shah LLP's resignation. The auditors issued a disclaimer of opinion citing material uncertainties including Rs 4,705.74 crore exposure to unlisted entities, ongoing ED, SEBI and SFIO investigations regarding suspected fraud through CLE Private Limited, and going concern doubts for multiple subsidiaries including Mumbai Metro One (loss Rs 1,276.68 crore). The Board also approved seeking shareholder authorization to raise up to Rs 3,000 crore via equity issuance to QIBs.
Negative signals include auditor resignation citing suspected fraud, disclaimer of opinion on financials, and regulatory investigations. Management restructuring and potential equity dilution may create near-term uncertainty. However, the company posted profit due to regulatory income and exceptional items.